{"id":19846,"date":"2024-05-27T18:30:06","date_gmt":"2024-05-27T18:30:06","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=19846"},"modified":"2024-05-27T18:30:07","modified_gmt":"2024-05-27T18:30:07","slug":"arbitration-bill-set-for-second-reading-in-national-assembly-on-friday","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/arbitration-bill-set-for-second-reading-in-national-assembly-on-friday\/","title":{"rendered":"Arbitration Bill Set for Second Reading in National Assembly on Friday"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>By Samuel Sukhnandan<\/p>\n\n\n\n<p>Attorney General and Minister of Legal Affairs, Anil Nandlall, revealed on the latest episode of &#8216;Parliamentary Agenda&#8217; that the Arbitration Bill is slated for its second reading in the National Assembly this Friday. <\/p>\n\n\n\n<p>This legislative move aims to position Guyana as a prominent arbitration hub, potentially unlocking significant benefits for the nation.<\/p>\n\n\n\n<p>Considered one of the most cutting-edge pieces of legislation, the Arbitration Bill incorporates key provisions outlined by the United Nations Commission on International Trade Law, which have received approval from CARICOM. <\/p>\n\n\n\n<p>According to Nandlall, the bill has undergone thorough reviews by international law firms and is designed to promote arbitration as a preferred method for resolving disputes, surpassing traditional litigation.<\/p>\n\n\n\n<p>Nandlall emphasized that once the bill passes, it will create opportunities for arbitration centers or companies offering such services abroad to establish operations in Guyana. <\/p>\n\n\n\n<p>This influx of businesses is expected to contribute to the country&#8217;s revenue generation and economic growth.<\/p>\n\n\n\n<p>The groundwork for the Arbitration Bill began in 2023 with the establishment of the arbitration unit. <\/p>\n\n\n\n<p>This unit was tasked with drafting the bill and building capacity for its implementation through consultations and reviews. <\/p>\n\n\n\n<p>After months of meticulous preparation, the government tabled the bill in the National Assembly in December of that year.<\/p>\n\n\n\n<p>As Guyana continues its trajectory towards becoming a hub for arbitration, the passing of the Arbitration Bill represents a significant step forward in enhancing the country&#8217;s legal framework and attracting international investment. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Samuel Sukhnandan Attorney General and Minister of Legal Affairs, Anil Nandlall, revealed on the latest episode of &#8216;Parliamentary Agenda&#8217; that the Arbitration Bill is slated for its second reading&hellip;<\/p>\n","protected":false},"author":4,"featured_media":19809,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[350,351],"tags":[],"class_list":["post-19846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-politics"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/19846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=19846"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/19846\/revisions"}],"predecessor-version":[{"id":19847,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/19846\/revisions\/19847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/19809"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=19846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=19846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=19846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}